Today’s Essential Reads
Regulators in Ohio rocked the oil and gas industry Friday with the strongest allegation yet that hydraulic fracturing could be triggering some earthquakes.
House Republicans, including those from Colorado, are at war with the Interior Department about how much better the U.S. is doing at producing its own energy.
A must-see movie now showing on HBO is “Gasland.” It is a look at the campaign to extract natural gas in the U.S. by hydraulic fracturing (“fracking”), and examines the industry’s exemptions from environmental regulations.
The United States has significantly increased its natural gas production since 2005, largely because of advancements in extraction technology. These technological improvements are relatively new, so their exact long-term impact on U.S. production is currently unclear. However, in the short term, this increased production has caused domestic prices to decrease substantially.
BP OIL SPILL:
BP’s refining subsidiary was released today from criminal probation related to a 2005 explosion in Texas City that killed 15 workers.
The city has settled with BP PLC for $6.5 million in future losses to the city’s tax revenues due to the 2010 oil spill, according to Mayor Robert Craft on Monday.
In the headlines recently have been articles about BP and plaintiffs in a lawsuit against the oil company reaching a settlement the oil well rupture in the Gulf of Mexico, fear over oil drilling of off Cuba and an increase in deepwater oil drilling.
When corporate defendants pony up billions of dollars to settle litigation involving thousands of plaintiffs, they’re usually buying global peace, or at least a clearer picture of their remaining liability.
One year on from the Fukushima Daiichi nuclear disaster in Japan’s northeast, details continue to emerge about how the crisis was much worse than the government and TEPCO originally let on.